Consumer confidence in
the U.S. economy is looking up, according to a recent study. The University of
Michigan/Thomson Reuters consumer-sentiment index rose to 81.6 at the end of
February, versus a final reading of 81.2 at the end of January.

Some economists have
predicted that consumer spending may increase as a result of the improved
sentiment, particularly as the inclement weather that has plagued much of the
country begins to abate. Wage growth and increased hiring have also been
pinpointed as elements that could further improve consumer sentiment and
spending.

“While the harsh winter
weather has kept consumers away from retail outlets, it has not had a
detrimental impact on their outlook for future economic conditions,” survey
economist Richard Curtin said. “Consumers have displayed remarkable resilience in
the face of the polar vortex as well as higher utility bills and minimal
employment gains.”

The report also shows
that a measure of consumer expectations grew from 71.2 in January to 72.7 in
February, though consumers’ views on their current conditions declined from
96.8 to 95.4 during the same time period.